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BERMUDA - The court sanction hearing for the recommended all-share combination between Hansa Investment Company Limited and Ocean Wilsons Holdings Limited has been extended through November 3, 2025, due to adverse weather conditions from Hurricane Melissa.
The hearing, which began on October 30, faced reduced court time availability because of the hurricane’s proximity to Bermuda. This extension follows an earlier adjournment on September 23 that was ordered by the Court to allow Arnhold LLC additional time to present objections to the scheme.
The merger, first announced on July 28, 2025, would see Hansa acquire the entire issued and to-be-issued share capital of Ocean Wilsons through a court-sanctioned scheme of arrangement under Bermudian law.
Scheme shareholders had previously approved the combination at a Court Meeting on September 12, with the requisite majority voting in favor of the scheme.
As a result of the hearing extension, the previously announced timetable for the combination is no longer applicable. Hansa has indicated it will make further announcements regarding the revised timetable in due course.
The combination is not subject to the UK City Code on Takeovers and Mergers as Ocean Wilsons is incorporated in Bermuda, though the companies have agreed to certain matters regarding the application of the Takeover Code.
This information is based on a press release statement from Hansa Investment Company Limited.
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